Location: Brunswick County, VA | Metro: Brunswick County, VA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,440 |
| 5 Bedrooms | $1,670 |
| 6 Bedrooms | $1,870 |
| 7 Bedrooms | $2,020 |
| 8 Bedrooms | $2,121 |
The neighborhood has a population of 43,873, indicating a relatively sizable community. The median household income stands at $48,873, suggesting a middle-income bracket. However, specific percentages for renters and exact median home values were not clearly provided in the recent searches. Despite this, we know the median home value is around $256,387.
Moving onto the rent economics, the Fair Market Rent (FMR) for ZIP 23873 is set at $910 for the fiscal year 2026, which is a key figure for Section 8 investors. This amount represents the benchmark for rental subsidies in the area. Unfortunately, the specific market rent figures for the ZIP code were not available in the searches conducted.
Given the data, ZIP 23873 could be suitable for both hands-off voucher operators and hands-on value-add buyers. The hands-off approach would benefit from the stability offered by the Section 8 program, ensuring a steady stream of rental income at the subsidized rate of $910. On the other hand, the hands-on value-add strategy might focus on improving properties to command rents above the FMR, leveraging the middle-income status of the area's residents.
Investors should consider conducting further analysis to understand the local market dynamics fully, especially regarding the actual market rent versus the FMR, to make informed decisions tailored to their investment goals.
Data Sources: FMR data from HUD (2027).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.